BP Plc (BP), the oil producer that’s selling assets to help pay for the 2010 Gulf of Mexico spill, has been excluded from companies allowed to bid for Abu Dhabi National Oil Co.’s onshore oil fields, Petroleum Intelligence Weekly reported, citing unnamed people.
Abu Dhabi Co. for Onshore Oil Operations, a concession that’s expiring in 2014 and of which London-based BP is a partner, is spinning off the onshore fields, the weekly publication said in its July 9 issue.
Exxon Mobil, Shell, BP, Total and Partex Oil & Gas have been shareholders in output from oil fields under a concession agreement that dates back to 1939. The fields began commercial production in 1960. Abu Dhabi National Oil Co. joined as a partner in the 1970s, forming Abu Dhabi Co. for Onshore Oil Operations, which holds the rights for six main deposits until 2014.
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